Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
U.S. Stocks Rise as Cooler Inflation Boosts Hopes for Fed Rate Cut 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Trump Meets Mexico and Canada Leaders After 2026 World Cup Draw Amid USMCA Tensions 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Oil prices edged higher in early Asian trading Monday after U.S. President Donald Trump extended the deadline for trade talks with the European Union, easing fears of looming tariffs that could weigh on global growth and oil demand. Brent crude rose 37 cents (0.6%) to $65.15 a barrel, while U.S. West Texas Intermediate (WTI) crude climbed 34 cents (0.6%) to $61.87 by 0001 GMT.
Analyst Tony Sycamore of IG Markets noted the "nice push higher" in both crude and U.S. equity futures following the deadline extension. Trump said he granted the EU’s request, led by Commission President Ursula von der Leyen, for more time to strike a trade deal, pushing the deadline to July 9.
Oil prices also gained momentum after limited progress in U.S.-Iran nuclear negotiations reduced fears of increased Iranian crude supply. Additionally, pre-Memorial Day short covering by U.S. buyers contributed to Friday’s 0.5% gain in both Brent and WTI.
Further supporting prices was the latest report from Baker Hughes, showing U.S. energy firms cut the number of active oil rigs by eight last week, bringing the total to 465—the lowest since November 2021—amid pressure from recent price softness.
However, upside remained capped by expectations that OPEC+ could increase production further. The group may raise July output by an additional 411,000 barrels per day (bpd), with Reuters reporting plans to fully unwind its remaining 2.2 million bpd voluntary cuts by the end of October. The group had already adjusted targets upward by 1 million bpd for April through June.
Global oil markets remain sensitive to geopolitical developments, trade negotiations, and supply-side adjustments, all of which will shape near-term crude price trends.
